Mr.Buffet, not a stranger to championing higher taxes, mentions his rate as 17.4%, netting him a tax bill of just under $7 million on an approximate gross income of $40 million for 2010. Buffet compares this rate with his carried interest income (private equity/hedge fund) friends who pay 15% on much of their income, to other workers in a much higher bracket but with lower incomes.

Mr. Buffet chides the politicians as “having a friend” in high places to help him and other super rich friends pay lower taxes, even as they do not need it.

Mr. Buffet’s candid comments may lead to a few less holiday cards from his fellow “super rich” friends, however, his line in the sand seems to be far higher than the $200k incomes often spoken of during political debates.

Important Disclaimer

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, please consult your financial advisor prior to investing!

Background

The is the vocal portion of J.K. Financial, Inc. a Dallas Texas Based Fee Only Total Wealth Financial Planning Firm. Founded by John Kvale, a Dallas Texas Fee only Financial Planner and Total Wealth Manager.

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